Question: 2 - Assume the allowance method unless othervise indicated. a) Your Co. had sales of $120000, an ending A/R balance of $18000, and a dr.

2 - Assume the allowance method unless othervise indicated. a) Your Co. had sales of $120000, an ending A/R balance of $18000, and a dr. balance of $900 in the allowance account. Record the adjusting entry if 2% of sales are uncollectible. General Journal Account/Explanation PR Debit Date Dec 31 Credit Aco bausb-23 sales What entry is required if A Co. goes bankrupt next year owing Your Co. $48 General Journal Date Account/Explanation PR Debit Credit Feb 5 (Write off account)

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